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Which is the largest end user industry for Reciprocating compressor market?
A reciprocating compressor functions as a positive displacement compressor, drawing gas into a chamber and compressing it by reducing the chamber's volume. Widely utilized in industries such as chemicals and petroleum, including natural gas compression and transportation, reciprocating compressors play a pivotal role in various industrial processes.
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Market Dynamics of the Reciprocating Compressor Market:
The report delves into factors impacting the reciprocating compressor market, considering both demand and supply dynamics. Factors such as drivers, restraints, opportunities, and future trends during the forecast period (2023-2029) are analyzed. One significant driver of reciprocating compressors' acceptance is their ability to meet the demand for gas production in diverse industries. For instance, oxygen is crucial for blast furnace operations in the iron and steel industry, while hydrogen is essential for steel manufacturing, leading to increased demand for reciprocating compressors to fulfill these gas requirements.
However, the high demand for rental services for piston air compressors poses a challenge to product sales. Many medium and small-scale companies opt for renting instead of purchasing piston air compressors due to lower usage frequency and high acquisition and maintenance costs. This preference for rental services impedes new product sales, affecting market growth.
Segmentation of the Reciprocating Compressor Market:
Application: The market segments include LNG and CNG transport and storage, with the segment expected to hold the largest market share by 2029. Growing demand from refineries, LNG, and CNG transport and storage plants, especially in developing countries, drives market growth, attributed to the high efficiency and capability of reciprocating compressors to produce high pressure and power.
Regional Analysis of the Reciprocating Compressor Market:
Country-wise Analysis:
Countries like India, Japan, South Korea, and China accounted for approximately 40% of global automotive sales in 2022, driving demand for reciprocating air compressors. This upward trend in the automotive sector is expected to further boost the global market for reciprocating air compressors during the forecast period.
Competitive Landscape of the Reciprocating Compressor Market:
Major players in the reciprocating compressor market have undertaken strategic measures such as facility expansions and partnerships to strengthen their market position. For instance, Burckhardt Compression AG introduced Laby compressors for LNG carriers with X-DF propulsion systems in April 2021, expected to drive market growth.
Segments Covered:
Type: Single-acting reciprocating compressors, Double-acting reciprocating compressors
Configuration: Horizontal reciprocating compressors, Vertical reciprocating compressors
Cylinder Arrangement: Inline reciprocating compressors, V-arrangement reciprocating compressors, Radial reciprocating compressors
Power Rating: Small reciprocating compressors (up to 30 kW), Medium reciprocating compressors (30 kW to 300 kW), Large reciprocating compressors (above 300 kW)
Application: Gas transmission and storage, Process gas handling, Pneumatic tools and equipment, Refrigeration and air conditioning, Wellhead compression, Vapor recovery units, Others
End-use Industry: Oil and Gas, Petrochemicals, Manufacturing, Power Generation, Refrigeration and Air Conditioning, Transportation, Others
Key Players in the Reciprocating Compressor Market:
Atlas Copco
Ingersoll Rand
Ariel Corporation
Gardner Denver
GE Oil & Gas (BHG Compressor)
Siemens Energy
Burckhardt Compression
Kobelco
Sundyne
MAN Energy Solutions
Sullair
Quincy Compressor
Corken
Bauer Compressors
Kaeser Compressors
Howden
PDC Machines
Hanwha Techwin
Hitachi
Corken
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